Skip to main content

Coinbase to acquire Skew crypto data analytics platform

Some of Skew’s institutional clients include One River Asset Management and Susquehanna International Group.

United States cryptocurrency giant Coinbase has acquired institutional-grade blockchain data analytics platform Skew.

Greg Tusar, vice president of institutional products at Coinbase, announced the news Friday, stating that the new acquisition will help customers make more informed trading decisions by using real-time data analytics.

“We’re excited to integrate skew’s data analytics platform with Coinbase Prime, allowing our customers to track cryptocurrency spot and derivatives markets in real-time. With skew, we’ll arm professional traders with dynamic, aggregated market data, presented in a highly actionable format, all within our market leading prime brokerage,” Tusar noted.

The acquisition is part of Coinbase’s broader strategy to serve institutional clients. According to Tusar, the exchange will continue to serve Skew’s institutional customers, which include One River Asset Management and Susquehanna International Group.

“While joining Coinbase represents an unparalleled opportunity for skew’s continued growth, we remain acutely focused on supporting our clients and working with our ecosystem partners. We believe our client commitment and offering will only be further enhanced by partnering with Coinbase,” Skew wrote in a Friday blog post.

The company noted that Coinbase has been a Skew client since it launched Skew Analytics two years ago. “We have not only developed a strong, positive relationship with the Coinbase team but have witnessed first-hand their impressive product-led culture, focus on compliance and commitment to the institutional space,” the firm said.

Headquartered in London, Skew was co-founded in 2018 by CEO Emmanuel Goh and chief operating officer Tim Noat with a mission to make crypto markets more transparent and drive institutional adoption. The company has seen rapid growth, accumulating more than 100 customers so far. Skew also established a bench with a mix of traditional financial services and crypto expertise with executives coming from major U.S. institutions such as JPMorgan, Goldman Sachs and Citi.

The news comes weeks after Coinbase went public on Nasdaq. Shortly after the listing on April 14, several Coinbase executives, including CEO Brian Armstrong and chief financial officer Alesia Haas, sold hundreds of thousands of COIN shares, netting millions of dollars.

Coinbase was actively acquiring companies before going public, though. In January 2021, Coinbase acquired Bison Trails, a fully managed blockchain infrastructure provider, in order to secure a “foundational element” within its growing ecosystem of products. The deal reportedly cost Coinbase around $80 million. Previously, the firm acquired trading execution startup Routefire to further improve its Coinbase Prime suite of tools and services.



from https://ift.tt/3eDU2Bg
https://ift.tt/336dzEU
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

Five Bitcoin Price Charts Analyzing The Dramatic Q1 2022 Conclusion

There are only hours remaining until the Q1 2022 close in Bitcoin price action. With the important quarterly candle set to close tonight, let’s look at what technicals might say about the direction of the next quarter. Q1 2022 Comes To A Close For Bitcoin The first quarter of a year, often sets the tone for the year to come. In investments, a poor Q1 performance is indicative of a bad year ahead. Considering the fact that Bitcoin price is now above $45,000 after touching $32,000 this quarter, it is tough to say the performance has been “poor” by anything other than crypto standards. Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022 The cryptocurrency has recovered nearly 40% from the low, leaving a long wick behind. Such a long wick suggests that before the quarter came to a close, buyers stepped up in a major way. Buyers were able to step up in a larger capacity in Q1 2022 than bears were able to in the final quarter of last year. The bearish wick to cl...
Post a Comment
Read more

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community.  Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for  resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...
Post a Comment
Read more

How Social Platform Chingari is Using Web 3.0 to Transform the Traditional Way We Use Social Media

The world is changing. This isn’t news to anyone, but sometimes it is nice to realize that—contrary to news headlines—not all the change is bad.  In fact, the last decade has seen so much innovation and so many improvements to technology that even 2015 seems like a different world.  Internet speeds, connecting with anyone globally (for free), and our ability to reach large groups of people without a middleman is nothing short of revolutionary. When it comes to technology evolution, this often happens with different iterations.  Once a system is mature, there’s a better idea of what we would like to change and improve.  We go back to the drawing board, target our creative minds at the issues, and create a new version that has evolved to better meet our needs.  The Internet has followed this model since its inception, evolving through three distinct stages.  We are only at the cusp of the third stage, called Web 3.0, with technologies such as blockchain and ...
Post a Comment
Read more